**OFFICE OF** **THE ATTORNEY** **GENERAL OF** **TEXAS AUSTIN** 
**QROVLR SELLLRS**  **A.l-rom4~ QaN** ***“*****L**

lonomhleJe

lme lItat0

Tre8mrer Auatln, TeX88
De8r Yr. Jamem! J8rea

Opinion lo* o-7410

mbicb **re8dm** 8s fOllOTs: **C**

0 Of 70x88 BO8rd Cnrtodlsn **the** of the U. 8. **Trust Id**  cOmp8ny formerly Ltd., 7800, TexPm:

$ 72,OOO.OO 5,778.OO a,a&l.oo Mt **Of** $476-00 **e8eh** 11,876.00 so.aao .oo Shoem8ke gO81 gmt8te LO8n eA Tlte Real S8t8te Lo8n 10;000.00 5,400.oo $139,3ti0.00
k&r-the desire of tbl8 comp8ny to withdr8w 

### tbe 8brtr8ct8 pert8lnlng to tbe 8bOVe llrted aeourltlem, 8nd we en0108e herewith copr o? out letter of 8utborltj from 

### the St8te Bo8rd at ~n8Ur8nOe~(bIE8Il8mloner8wbereln the Bo8rd 8UthOrlXes thla relwme. .'

% conneotlon rlth 701~ Opinion lo. 0-4836, we 

### klnd**I7 8@**  **7011**

**t$** ple8ae **8dTise thlr**  **Department** If this rele8.e In perml881b1e.ROaOr8bl8 Jesse J8mes - page 2

Wo b810 **rx8mined** OUr Opiaion Ho. O-4636, rbloh Se gito you on April 24, 1942. In 7Our oplSlOn rOqU8.t in 1942 70~18SkOd Shethrr it **888** neoeee8r7 for 70~ to **h8re** l **888ig** mmt of the 1188 SoSwIng the **not88** depo81t8d 

### with theBo8rd 

### of Inur8noe Oomml8elon8re**e to**  **be** held **by** the 2t8te TrS88urerr Und8r the **pr~tlo.lone** ot Art1018 4282 Of th8 2OVl8Sd Civil **Dt8t Ptee,**  **8nd** 

### whether **theme 8ee~gammte**  mhould 

### bem8de to the 2t8tS **%e8eUrer** 

### or

## to theBorrd Of Inmr8nOe C~maleelonore~ 8nd **rheth or**  **the7** abould **bo** pl8oed on moord in the eomt7 SherS tbe property is 

### loO8ted.

In **rep17 to**  th8t inquiry SS uSSd the ?OlloWing lmII-W Sin 8ddltion tobrtlng the note8 **tr8n8ferred**

to 7011,before the notes 8re 8oaepted an 8bStr8Ot l hotzld

### be **furnlrhed ahowing**  **th8t tb8**  **notes 8re**  **8** first lien ou the land. YOU should thm bold the 8b8tr80tt together Slth the **tr8notrr** of thenotes in 

### your posSeSdOn, 8ftar b8vi.ngfirst Tllmd the tr8nSf8r for reoord ln the oount7 Sbere the **18nd is**  **1008tSd.** The expenrs lnoldent **to recording**  the tmnefer ot **the** notes Should **be borne**  by the depo

### ~1tar. 

### Before 70~ 8re **8UthOri8Od to**  **800ept** 8n7 SeourltlSe **for** deposit **tbe** l **8me mmt**  be **8p** proved b7 **the** Do8rd **of IneumnOe**  **Comaieelonere.** It IS the dut7 oi 88ld **BO8rd** to rppnlee tbS SeowltieS **8nd** p8SS upon 

### the queStIOn **88** to ShethSr the **r.81 SSktS**  **8SSUPhg thS**  8OtSS 18 Worth 8t lS8St double tbe 8BOUSt Of the **Bote8-** It 18 8180 the dut7 ot uld 

### BO8rd to h8ve **the** title oxmined 8nd determine thrt **the notes**  **8re 8**  **firrt** llsa On tbe ISad. All o? thl8 upen~e Is to be borne by 

### thedepositor-’
If th8 Seaurlt7 **h8d** to be sold In order to oolleet the **notes tb8t**  8re on deposit , It Sould be helpful If the dep8rtaienth8d 8a 8b8tr80ts but lt IS not irper8tlt8, 8nd thS purob8eer oould 

### buy tbe l8nd Slthout being ?SmlShed 8218b8tr8Ot. The quertit3n of **b8Ving** the 8b8tr8ot left with tbe note Is **8 attrr**  

### lodged **18rge17 in**  **the di8oretiOn**  **of** the **Bo8rd** o?

### Insumnae %muiedonerer tion duty 

### and **reeponei** blllt7 It IS to determine whether tbs 

### l rOurit7 

### oifered 18 

### 8ut?lelent. In **p888lng** 

### upon thisqUOeti~~ **tbo v81UO**  **Of the**  Searrrlf7SlthOut 8n 8betr8Ot, 8nd **the +8lue**  **of the**  **88-** ourlt7 wltb **8n** 8betr8ot 8bOuld bS t8k8n lnt0 OOneldSr8tlSn b7 ~8ld **Do8rd*****lonor8ble Jesse** 

### J8mee - Page 8

It 18 OUF Opinion th8t bo?Ore 7OU reO#iva 8ny notes **to bo**  

### held **88 nourit7,**  7oa should **b8re S**  **tr8neier of**  s8ld uSte8# 88 

### l

t8tedinOUr Opinion Roe 0-4836, tr8nderring **88Ee** to the **at8te Trnmaror**  of TeI8r, 8nd b8te 88me dul7 reoorded la **the oount7** **where**the 18nd Is l.oeated. **18**

### rddltlan **thereto the**  **Bo8rd** of Inmr8noo **cOmmi8eionere 8hould**  **rOqUirS 8n** opiniOa Of 8n 8ttWIle7 8t 18W**, OSPti?fin&**  **t0 tbe**  **?8Ot th8t**  **in** hi8 oplnloa 

### tbe tltle18 ole~r **urd** free 

### Of 811 llen8, **8xo8pt the**  

### onerbloh 1sbeinK tr8neierred to **the** st8tO O? TeX88.

If, In the opinion of the **808rd** Of Inmrmoe Com

### lleelonere, 

### the

l eourlt7 18 suftlClent ~lthout ret8inlnR **the** rbstr8Ot8, **then it**  

### ~111net be 

### nt6eeMry for the 8bStr8Ot to 

### be left wltb the **Oo8rd** o? **Inmr8nOO** COmm1es1Oaere or flied ia 

### four dep8rtment.

In

### yourlettrrml8tlre to the lomm IU question, 70~ **hrre** 

### turalmbed**us 8**  oOp7 of the letter ?rOm 

### ~onor8ble George B. Butler, Chairman of **the** Bo8rd o? Insur8Uoe Commissioners, th8t it rlll be s8tlsf8OtOF7 for 7OU to rele8ee **the** rbstract.8Involved In this **inquiry. Shae**  **the** Board of Insursnce Comml~slonarr **thlnke tbs**  seourlt7 la autflolent rlthout **the** abstracts, 7ou are authorized to release same.

Insofar as this opinion IS In conflict with our Opinion Rn. O-4%35, same is overruled.

Very trial7 

### 7ourr

**AlTQRF?ET**

**GStiERAL**

**OF TEXAS** 

B7 a&----+

**Gee. ‘** **1. R8reue**  ASSISTAT‘